The Management of the Millennium Development Authority (MiDA) has indicated that it is committed to completing and inaugurating all prioritised projects under the Millennium Challenge Account (MCC) grant in the next one year and six months, using funds available before the cancellation of the power compact.
MiDA said it now had $308.2 million available for it under the compact for the implementation of projects following the withdrawal of $190 million by the MCC and an additional counterpart fund of $23 million from the government.
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This came to light when the management of MiDA interacted with some journalists in Accra yesterday.
The Chief Executive Officer (CEO) of MiDA, Mr Martin Eson-Benjamin, told the journalists that the remaining funds would be used to support investments in infrastructure and business-process-related projects that would enhance the operational efficiency of the Electricity Company of Ghana (ECG), cut commercial and technical losses, improve the ECG’s finances and allow power to be distributed efficiently.
Part of the funds, he said, would be used to support the Energy Commission (EC) and the Ghana Standards Authority in the form of capacity upgrades to enable them to carry out labelling standards, energy auditing and equipment testing.
He said another tranche of the fund would go into the retrofitting of some public buildings at the University of Ghana, the Korle Bu Teaching Hospital and some ministries in Accra, to ensure efficient power consumption and lower electricity bills.
Additionally, Mr Eson-Benjamin said, there were plans to improve access to power in eight selected markets in the Greater Accra Region and two others in the Northern Region.